US Equity Indexes Mixed in Midday Trading as Crude Oil Slumps

MT Newswires Live05-28 00:08

US equity indexes traded mixed amid a decline in crude oil prices and government bond yields.

The Nasdaq Composite fell 0.3% to 26,578.4, with the S&P 500 down 0.2% to 7,506.4, as technology sat at the bottom of sector charts in midday trading on Wednesday. The Dow Jones Industrial Average, however, climbed 0.3% to 50,617.2.

The memorandum of understanding being negotiated between Tehran and Washington will call for US military forces to withdraw from Iran's vicinity and lift the blockade of Iranian ports in return for the reopening of the Strait of Hormuz to pre-war levels, CNN reported, citing Iranian state television.

The US denied the Iranian TV report that said maritime traffic through the critical waterway could return to normal within a month of the peace deal coming into effect, Bloomberg reported.

West Texas Intermediate crude oil futures dropped 3.4% to $90.70, and Brent crude futures slumped 3% to $96.60.

Most US Treasury yields fell, with the 10-year down 2.2 basis points to 4.47% and the two-year lower by 1.9 basis points to 4.03%.

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